Accounts payable updating services

· 21-Oct-2017 01:00

Like assets, they can be both current and long-term.Long-term liabilities are debts and other non-debt financial obligations, which are due after a period of at least one year from the date of the balance sheet.This account represents a company's total net worth.In order for the balance sheet to balance, total assets on one side have to equal total liabilities As you can see from the balance sheet above, it is broken into two areas.

Non-current assets are assets that are not turned into cash easily, are expected to be turned into cash within a year, and/or have a lifespan of more than a year.Cash equivalents are very safe assets that can be readily converted into cash; U. Companies often sell products or services to customers on credit; these obligations are held in the current assets account until they are paid off by the clients.Lastly, inventory represents the raw materials, work-in-progress goods, and the company's finished goods.Current liabilities are the company's liabilities that will come due, or must be paid, within one year.This includes both shorter-term borrowings, such as accounts payables, along with the current portion of longer-term borrowing, such as the latest interest payment on a 10-year loan.